WASHINGTON TRUST Co Grows Holdings in Abbott Laboratories $ABT

WASHINGTON TRUST Co grew its stake in Abbott Laboratories (NYSE:ABT) by 2.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,913 shares of the healthcare product maker’s stock after buying an additional 3,722 shares during the period. WASHINGTON TRUST Co’s holdings in Abbott Laboratories were worth $18,213,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Avanza Fonder AB grew its stake in Abbott Laboratories by 0.4% in the 2nd quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock valued at $22,904,000 after acquiring an additional 655 shares during the last quarter. Madrona Financial Services LLC grew its position in shares of Abbott Laboratories by 9.7% in the 2nd quarter. Madrona Financial Services LLC now owns 1,726 shares of the healthcare product maker’s stock worth $235,000 after acquiring an additional 152 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Abbott Laboratories by 12.4% during the second quarter. Janney Montgomery Scott LLC now owns 669,868 shares of the healthcare product maker’s stock valued at $91,109,000 after acquiring an additional 73,780 shares during the period. Dillon & Associates Inc. boosted its stake in Abbott Laboratories by 1.9% during the 2nd quarter. Dillon & Associates Inc. now owns 218,655 shares of the healthcare product maker’s stock valued at $29,737,000 after purchasing an additional 4,095 shares in the last quarter. Finally, State of Michigan Retirement System boosted its stake in shares of Abbott Laboratories by 0.5% during the 2nd quarter. State of Michigan Retirement System now owns 473,057 shares of the healthcare product maker’s stock worth $64,340,000 after acquiring an additional 2,500 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Up 0.0%

Shares of NYSE:ABT traded up $0.05 during midday trading on Thursday, reaching $128.87. The company had a trading volume of 401,441 shares, compared to its average volume of 6,509,720. The business’s 50 day moving average price is $130.50 and its 200 day moving average price is $131.36. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The stock has a market cap of $224.09 billion, a PE ratio of 16.18, a P/E/G ratio of 2.36 and a beta of 0.68.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.30. The business had revenue of $11.37 billion for the quarter, compared to analysts’ expectations of $11.40 billion. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 29.57%.

Wall Street Analysts Forecast Growth

ABT has been the subject of several analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Abbott Laboratories in a research note on Wednesday, October 8th. Barclays raised their price target on shares of Abbott Laboratories from $159.00 to $162.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Wells Fargo & Company raised their price objective on Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Raymond James Financial lifted their price target on shares of Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Finally, Jefferies Financial Group increased their price objective on shares of Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average target price of $147.00.

About Abbott Laboratories

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.